Trade Ideas Newsletter 07/18/2017

AXP is at the start of a significant breakout

Based on the preceding analysis in AXP, traders should determine that their account can handle increased risk from a new position. Also be sure that AXP is not too correlated with your existing position. Lastly, excellent traders always check how a new addition relates to not just their overall account, but the prevailing market action as well. For example, check the S&P 500. Is it trending up or down recently? Has it recently exceeded key resistance or support levels? Be sure to align your trading actions on AXP with the overall market so you are not swimming against the tide.

CHART

Currently the calculated sentiment levels, evaluated by Traders For Wealth, have shown an increasingly positive bias toward AXP. Also, the price action in AXP has been moving on up. This is a strong sign for a potential upside breakout. Traders should view this as a bullish trade and make sure it aligns with the overall market mood, and their current positions.

American Express Company (AXP)

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS). The USCS includes the U.S. Consumer Card Services business and consumer travel services in the United States. The ICNS includes the International Consumer Card Services business, Global Network Services business and consumer travel services outside the United States. The GCS includes the Global Corporate Payments business, small business services businesses in the United States and internationally, financing products and foreign exchange services operations. The GMS includes the Global Merchant Services business and global loyalty coalition businesses.